Department of Industrial Technology

Permanent URI for this collectionhttps://dspace.njala.edu.sl/handle/20.500.144402/181

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Subject: search.filters.subject.foreign direct investment

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    The Effect of Foreign Direct Investment on Economic Growth in Sierra Leone
    (Science Research Publication, 2023-10-31) Dumbuya, Ibrahim
    Sierra Leone is one of thepoorest economies in Africa that relies heavily on foreign direct investment (FDI) inflow for growth. This study examines the impact of FDI on economic growth in Sierra Leone between 1990 and 2020 using time series data from the World Development Indicators (WDI). The analysis uses cointegration and error, correction models. The findings from the result showed that FDI has a significant positive effect on the economic growth of Sierra Leone in both the short and long run. The findings recommend, among other things, that policies aimed at increasing the productivity and growth be implemented. Furthermore, since FDI of the economy is also significant, government should make further efforts to strengthen the implementation of it reform agenda which has the potential to attract more FDI into Sierra Leone. This is true because, the inflow of FDI has been on the increase because of the increase in exportation since the introduction of certain reform measures by the government which have further encouraged and boost foreign investment in various sectors of the economy.
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    The Relationship between Foreign Direct Investment and Economic Growth: A Review of the Literature (1994-2023)
    (Science Research Publication, 2025-02-28) Udeh, Ernest
    This paper presents a comprehensive review of the literature examining the relationship between Foreign Direct Investment (FDI) and economic growth from 1994 to 2023. Over the past three decades, a growing body of research has explored the channels through which FDI impacts economic growth, including technology transfer, capital accumulation, and improvements in human capital. While early studies primarily focused on the direct benefits of FDI, more recent research highlights the importance of host country characteristics, such as institutional quality, governance, and absorptive capacity, in determining the extent of FDI’s positive effects. Additionally, the role of FDI in fostering productivity, innovation, and infrastructure development has been increasingly recognized. The findings suggest a complex, context-dependent relationship, with FDI often promoting economic growth in developing and emerging economies, but not always yielding the same results in advanced economies. This review synthesizes key theoretical frameworks, empirical findings, and policy implications, offering valuable insights for policymakers seeking to harness FDI as a driver of sustainable economic development.